Analyst Action on Kroger: Deutsche Bank Downgrades to ‘Sell’
Deutsche Bank downgraded grocery chain Kroger (KR) to a “sell” rating on October 8 after having set it at a “hold” for more than a year. Deutsche Bank analyst Paul Trussell cited high costs associated with the company’s efforts to expand its e-commerce footprint as the key reason behind the downgrade. Trussell lowered the price target on Kroger to $24.00 from $30.00.